Seagate Technology plc today reported financial results for the quarter
ended September 30, 2011. The company shipped 51 million disk drives and
reported revenue of $2.8 billion, gross margin of 19.5%, net income of
$140 million and diluted earnings per share of $0.32. On a non-GAAP
basis, which excludes the net impact of certain items, Seagate reported
net income of $146 million and diluted earnings per share of $0.34 for
the quarter ended September 30, 2011. For a detailed reconciliation of
non-GAAP to GAAP results, see accompanying financial tables.
Additionally, Seagate returned $75 million to shareholders in the form
of a dividend and repurchased $128 million of ordinary shares during the
first fiscal quarter.
Acquisition of Samsung's Hard Disk Drive Assets
The European Commission announced on October 19, 2011 that they have
approved under the EU Merger Regulation, Seagate's proposed acquisition
of Samsung's hard disk drive assets. The company will continue to work
with other regulatory bodies to secure additional approvals in the
coming weeks. Seagate believes the transaction will close by the end of
calendar year 2011.
Investor Communications
Seagate will hold a conference call to review its first fiscal quarter
today at 2:00 p.m. Pacific Time. The conference call will consist of
opening comments from Steve Luczo, CEO, followed by a question and
answer session with the executive management team. During today's
conference call, the company will provide an update on its Thailand
operations. In light of the situation in Thailand, the company will
provide limited guidance for the December quarter.
Seagate has issued a Supplemental Commentary document. The Supplemental
Commentary will not be read during today's call, but rather it is
available in the investor relations section of seagate.com.
Dividend
The Board of Directors has approved a quarterly cash dividend of $0.18
per share which will be payable on November 18, 2011 to shareholders of
record as of the close of business on November 3, 2011. The payment of
any future quarterly dividends will be at the discretion of the Board
and will be dependent upon Seagate's financial position, results of
operations, available cash, cash flow, capital requirements and other
factors deemed relevant by the Board.
For more information, visit this page.
Source
No comments:
Post a Comment